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Hungary Ascent stake: 45%-50.5% Gas
Project Background Partners 49.5%-55%
  • Ascent Resources has 52.5% and 92% interests in two Hungarian affiliates PetroHungaria kft and ZalaGasCo kft respectively
  • PetroHungaria kft operates a conventional gas exploration and development project in two exploration areas in eastern Hungary. PetroHungaria, with Canadian partners DualEx and Swedish partners PetroPequnia have drilled four gas exploration wells. The company plans to put the Peneszlek area development, initially with three wells, on production in Q-2, 2008. Phase 1 of this development will include a 3-D seismic acquisition to optimise well locations for the 2nd phase of the development.
  • ZalaGasCo kft, in partnership with MOL RT, the Hungarian Oil and Gas major is redeveloping the Bajcsa gasfield. This field, originally developed in the 1960’s produces from lower permeability Pannonian reservoirs. The redevelopment will use horizontal producing wells to increase production rates and to maximise gas recovery factors. Field work is on-going with gas production through the existing facilities expected in Q-1, 2008.
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    Hydrocarbon exploration blocks

    Geological cross-section North-East Hungary

    2D Seismic data in concession depicting hydrocarbon formations

    Seismic Interpretation of Penészlek Gasfields

    Gas Potential of the Nyírség blocks

    Structure map of Penészlek gas development area

    Location map of Penészlek gas development area

    Reservoir model of the Bajsca gas field

    Production Facilities at Bajsca field

    Production Facilities at Bajsca field

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